Russia Targets Illegal Crypto Mining as India Urges CBDC Adoption

TLDR

• Russia’s Ministry of Justice has proposed new penalties for unregistered cryptocurrency miners.
• The proposed bill includes fines of up to 2.5 million rubles and up to five years in prison.
• Only 30% of crypto miners in Russia had registered their operations by mid-2025.
• India’s central bank has urged countries to prioritize central bank digital currencies over stablecoins.
• The Reserve Bank of India emphasized that CBDCs offer programmability and settlement speed with added financial safety.

Russia’s Justice Ministry has proposed harsh penalties for unauthorized cryptocurrency mining, while India continues to push for CBDC adoption globally. The United States prepares a new legislative move on digital assets, and Uganda’s opposition promotes an offline messaging app for election resilience. Meanwhile, South Korea and China implement new digital currency measures, as Turkmenistan officially legalizes crypto mining and trading operations.

Russia Proposes Fines and Jail for Unregistered Miners

Russia’s Ministry of Justice submitted a draft bill targeting illegal cryptocurrency miners with strict penalties and jail terms.

The bill includes fines of up to 2.5 million rubles and prison sentences extending to five years for severe violations.

Only 30% of miners had registered their operations by mid-2025, according to Deputy Finance Minister Ivan Chebeskov.

Finance Minister Anton Siluanov confirmed that 1,300 miners registered by October 2025, revealing low compliance within the sector.

The ministry also proposed labor colony sentences for those who profit heavily without registration.

Violators may face 480 hours of forced labor alongside financial penalties, depending on the scale of illegal profits.

Authorities expect the new rules to reduce strain on energy grids and regulate mining operations.

India Pushes Global Support for CBDCs

India’s central bank urged countries to prioritize central bank digital currencies over stablecoins in its financial stability report.

The Reserve Bank of India emphasized CBDCs as crucial for maintaining financial integrity and monetary control.

RBI highlighted that stablecoins pose monetary risks during financial stress, calling for cautious assessment and regulation.

“CBDCs offer the benefits of stablecoins but with central bank backing,” the RBI report stated.

India’s monetary authority expressed concern over multiple fiat-backed digital assets competing in the same economy.

This stance underscores India’s intention to lead global CBDC discussions amid growing private digital currency adoption.

The central bank maintains that CBDCs provide efficient settlements and programmability without compromising systemic safety.

US and Global Crypto Developments Continue

The US Senate Banking Committee will review crypto market legislation in January, after delays in 2025.

Pro-crypto lawmakers aim to advance the Responsible Financial Innovation Act for floor voting.

Digital Chamber CEO Cody Carbone said the committee would mark up key legislation in early January.

Ugandan opposition leader Bobi Wine encouraged Bitchat use to avoid communication blackouts during elections.

The decentralized app, developed by Jack Dorsey, enables encrypted messaging via Bluetooth mesh networks.

President Museveni previously blocked internet access during past elections, citing national security concerns.

Meanwhile, South Korea’s Digital Asset Basic Act remains on hold due to regulatory disagreements.

China’s central bank now allows interest payments on digital yuan wallet balances from January 1.

Turkmenistan enacted a law permitting crypto mining and trading, allowing foreign firms with proper registration to operate.

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